Question

1. How long will it take for $1,000 to double if the interest rate is 4%?  If the interest rate is 8%?  If the interest rate is 12%?

Answer 1

Number of period	=nper(rate,pmt,pv,fv)	Where,
		17.67 Years			rate	=	4%
					pmt	=	0
					pv	=	$     -1,000
					fv	=	$       2,000
Number of period	=nper(rate,pmt,pv,fv)	Where,
		9.01 Years			rate	=	8%
					pmt	=	0
					pv	=	$     -1,000
					fv	=	$       2,000
Number of period	=nper(rate,pmt,pv,fv)	Where,
		= 6.12 Years			rate	=	12%
					pmt	=	0
					pv	=	$     -1,000
					fv	=	$       2,000